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Problem 1: Costco carries an average inventory of $1,500,000. Its annual sales are $7 million and its gross profit margin is 50%. The receivables conversion period is 1.5 times longer than its payable deferral period. Costco's trade terms with its suppliers is net 90 and it always pays on time (never early and never late). Costco's new CFO wants to improve the cash conversion cycle by 35 days, based on a 365-day year. His first strategy is to tighten the credit term with its own customers and aggressively reduce his account receivable balance by 25% and he thinks this move will drive away customers and reduce the annual sales by 15%. His second strategy is to reduce the amount of inventory to $1,000,000 and he thinks the gross profit margin will reduce from 50% to 45% as he purchases less from his suppliers. By how much must the firm accounts payable level change in order to meet its goal of a 35-day reduction in the cash conversion cycle? Is it an increase or decrease in accounts payable level?
Sea Duds is a retail clothing store specializing in resort clothing. The company purchases finished goods-apparel and accessories-and its other payments are for typical operating costs such as rent, utilities, and payroll. Identify the controls prese..
We use derivative instruments to manage risks, What are the accounting challenges involved with using derivatives to mitigate foreign currency risk?
Which security has the greatest systematic risk? Z because it has a high beta and the largest standard deviation. / Y because it has the greatest diversifiable
Creat a journal entry to record income taxes for the year 2010. Show well-labeled computations for the amount of income tax payable and the change in the deferred tax account.
If the expected long-run growth rate for this stock is 4%, and if investors' required rate of return is 8%, what is the stock price
Kelsh estimates that 5,000 direct labour hours and 10,000 machine hours will be worked during the year. What will be the predetermined overhead rate per hour
What is the correct amount of accounts payable? Work-in-process inventory costing $20,000 was sent to an outside processor for plating on December 30,2016.
Assume the effective interest method of amortization of any discounts or premiums. Ignore income taxes. Prepare a bond amortization schedule for life of bonds
questionarcher daniels midland company is considering purchasing a new farm that it plans to operate for 10 years. the
Draw the entities and the minimum and maximum cardinalities for the two entities described in each problem. Some problems specify the entities that you should draw. Read each problem carefully. You might find the database design REA data model pow..
The following information relates to the Victoria Company at the end of 2017. The accounting period is the calendar year. Employees are paid every Friday for the five-day week ending on that day. Salaries amount to $4,000 per week. The accounting per..
Ryan 66 old and bella 54 old married. 2 kids 18 years and britany 23 graduated 2014 may. During year matt earn $4940 part time and britany $ 12500 in job start in October. Both live with parent. gross income both parent 147000. Bella parent also livi..
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